How is Mutual Fund performance calculated?

Prices and Performance"," /> Prices and Performance"," name="head"> <body> <script language=javascript type="text/javascript">  </script> </head> <frameset rows="34,*" frameborder=0> <frame src="./tiny_templates_c/connect_head.php?wid=555559&cat=Investing&url=http://answers.yahoo.com/question/index?qid=20090809080759AAFfb6l&urltitle=How is Mutual Fund performance calculated?&description=https://www1.royalbank.com/cgi-bin/rbaccess/rbunxcgi?F6=1&F7=5g&F21=IB&F22=5g&lblLanguage=EN&lblTabClicked=Performance&lblSeries=A&lblSorted=CATG_ORDER&lblPubAccess=Y&lblHeader=A&(See link above) - Does the performance factor in Management fees and MER? Basically do the values in the performance tab indicate the final return after factoring in all fees?Okay the link didn't work, try http://www.rbcam.com/then go to "Quick Links -> Prices and Performance"," name="head"> <frame src="http://answers.yahoo.com/question/index?qid=20090809080759AAFfb6l" name="Body"> </frameset> </body>